US Airways Airbus A319-112 N710UW (msn 1019) CLT (David Neal), originally uploaded by Airliners Gallery.
US Airways Group (Phoenix) today reported its fourth quarter and 2010 financial results. The Company reported a 2010 net profit of $447 million, or $2.34 per diluted share, which excludes special items totaling a net credit of $55 million. This is the second highest profit in the Company’s history and represents a $946 million improvement as compared to the 2009 net loss excluding special items of $499 million, or ($3.75) per share. On a GAAP basis, the Company reported a net profit of $502 million, or $2.61 per diluted share for 2010, compared to a net loss of $205 million, or ($1.54) per share, in 2009.
For the fourth quarter 2010, net profit excluding special items was $28 million, or $0.17 per diluted share. Net loss excluding special items for the fourth quarter 2009 was $32 million, or ($0.20) per share. On a GAAP basis, the Company reported a net profit of $28 million for its fourth quarter 2010, or $0.17 per diluted share, compared to a net loss of $79 million, or ($0.49) per share, for the same period in 2009.
As of December 31, 2010, the Company had approximately $2.3 billion in total cash and investments, of which $364 million was restricted, up from $2.0 billion, of which $480 million was restricted on December 31, 2009.
US Airways has announced that in anticipation of planned retirements and attrition, the Company will hire 420 flight attendants and 80 pilots for 2011. The positions will be filled by recalling employees currently on furlough, as well as through hiring new crew members. The majority of these returning and new pilots and flight attendants will be flying by July. After the recall, US Airways will have approximately 100 pilots and no flight attendants on furlough.
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